BALTIMORE, Aug. 24 /PRNewswire-USNewswire/ -- Governor Martin O'Malley announced today that State grants are available in Fiscal Year 2011 through the Maryland Biotechnology Center to assist in commercializing promising research, encouraging bio companies to collaborate with academic institutions and expanding biotechnology resources. The Governor also announced that seven Maryland bio companies and universities received $1.3 million in FY 2010 grants, which was the first year of funding.
"Biotechnology continues to be a key driver of Maryland's economy," said Governor O'Malley. "The high quality of the biotechnology projects supported by these awards, as well as their link to a number of Maryland institutions of higher learning, demonstrates Maryland's significant potential to commercialize our unparalleled academic research."
Applications for the Biotechnology Commercialization Awards and the Translational Research Awards must be submitted by September 15th to the Maryland Biotechnology Center (MBC), a part of the Maryland Department of Business and Economic Development (DBED), at www.marylandbiocenter.org. These grants complement funding available through TEDCO's Maryland Technology Transfer and Commercialization Fund, the University of Maryland's Maryland Industrial Partnerships Program and DBED's Maryland Venture Fund programs.
In Fiscal Year 2010, the Biotechnology Commercialization Awards were made to three biotechnology companies to assist them in commercializing a product or service. College Park-based Zymetis, received a $200,000 grant to advance their work in converting whey to fuel; Fyodor, based in Baltimore's BioPark, received $200,000 for the commercialization of their flagship product, the Urine Malaria Test; and InfraTrac, located at the Silver Spring Innovation Center, received $100,000 to grow their counterfeit
|SOURCE Maryland Department of Business and Economic Development|
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